RFFC vs. VOO

Last updated Jun 3, 2026

RFFC (ALPS Active Equity Opportunity ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - RFFC is a Large Cap Blend Equities fund actively managed by SS&C, while VOO is a S&P 500 fund tracking the S&P 500 Index. RFFC is actively managed, while VOO is passively managed. Over the past 5 years, RFFC returned 12.68%/yr vs 14.26%/yr for VOO. Their correlation of 0.93 suggests significant overlap in exposure. RFFC charges 0.48%/yr vs 0.03%/yr for VOO.

Performance

RFFC vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Active Equity Opportunity ETF (RFFC) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RFFC achieves a 11.11% return, which is significantly lower than VOO's 11.69% return.

RFFC

• 1D: 0.15%
• 1M: 3.27%
• YTD: 11.11%
• 6M: 12.03%
• 1Y: 29.59%
• 3Y*: 21.39%
• 5Y*: 12.68%
• 10Y*: —

VOO

• 1D: 0.14%
• 1M: 5.39%
• YTD: 11.69%
• 6M: 12.11%
• 1Y: 29.68%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RFFC vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RFFC ALPS Active Equity Opportunity ETF	11.11%	16.83%	23.51%	19.50%	-14.58%	22.33%	12.48%	24.77%	-10.23%	21.02%
VOO Vanguard S&P 500 ETF	11.69%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between RFFC and VOO is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 8, 2016	0.93

The correlation between RFFC and VOO has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

RFFC vs. VOO - Sectors Allocation Comparison

Sectors	RFFC	VOO
Technology	29.8%	35.7%
Industrials	13.2%	8.3%
Healthcare	11.8%	8.5%
Financial Services	11.5%	11.6%
Consumer Cyclical	9.9%	10.2%
Communication Services	9.2%	11.3%
Energy	4.4%	3.5%
Consumer Defensive	3.1%	4.9%
Utilities	2.6%	2.4%
Basic Materials	2.3%	1.8%
Real Estate	2.2%	1.9%

Return for Risk

RFFC vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RFFC

RFFC Risk / Return Rank: 73
RFFC Sharpe Ratio Rank: 75
RFFC Sortino Ratio Rank: 76
RFFC Omega Ratio Rank: 73
RFFC Calmar Ratio Rank: 64
RFFC Martin Ratio Rank: 76

VOO

VOO Risk / Return Rank: 75
VOO Sharpe Ratio Rank: 77
VOO Sortino Ratio Rank: 75
VOO Omega Ratio Rank: 76
VOO Calmar Ratio Rank: 68
VOO Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RFFC vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Active Equity Opportunity ETF (RFFC) and Vanguard S&P 500 ETF (VOO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	RFFC	VOO	Difference
Sharpe ratio Return per unit of total volatility	2.48	2.53	-0.05
Sortino ratio Return per unit of downside risk	3.49	3.43	+0.06
Omega ratio Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio Return relative to maximum drawdown	3.23	3.42	-0.19
Martin ratio Return relative to average drawdown	14.90	15.95	-1.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFFC vs. VOO - Sharpe Ratio Comparison

The current RFFC Sharpe Ratio is 2.48, which is comparable to the VOO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of RFFC and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RFFC	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.53	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.85	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.89	-0.18

Drawdowns

RFFC vs. VOO - Drawdown Comparison

The maximum RFFC drawdown since its inception was -36.26%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for RFFC and VOO.

Drawdown Indicators

	RFFC	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-33.99%	-2.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.25%	-8.90%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.45%	-18.69%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-22.29%	-24.52%	+2.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-0.07%	0.00%	-0.07%
Average Drawdown Average peak-to-trough decline	-5.02%	-3.69%	-1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.91%	+0.10%

Volatility

RFFC vs. VOO - Volatility Comparison

ALPS Active Equity Opportunity ETF (RFFC) has a higher volatility of 3.03% compared to Vanguard S&P 500 ETF (VOO) at 2.74%. This indicates that RFFC's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFFC	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	2.74%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	8.88%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	11.78%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	16.81%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	18.01%	-0.04%

RFFC vs. VOO - Expense Ratio Comparison

RFFC has a 0.48% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

RFFC vs. VOO - Dividend Comparison

RFFC's dividend yield for the trailing twelve months is around 0.72%, less than VOO's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RFFC ALPS Active Equity Opportunity ETF	0.72%	0.78%	1.05%	1.35%	1.41%	0.71%	1.79%	1.34%	1.36%	0.93%	0.66%	0.00%
VOO Vanguard S&P 500 ETF	1.02%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both RFFC and VOO in my portfolio?

With a correlation of 0.94, RFFC and VOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RFFC or VOO?

RFFC has higher volatility (3.03%) compared to VOO (2.74%). In terms of maximum drawdown, RFFC dropped -36.26% vs VOO's -33.99%.

Which ETF is better, RFFC or VOO?

On 5-year performance, VOO leads with 14.26% vs 12.68% for RFFC. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 2.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RFFC or VOO?

Over the 5-year period, VOO has performed better with a 14.26% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RFFC or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.48% for RFFC.

Which ETF pays a higher dividend yield, RFFC or VOO?

VOO has the higher dividend yield at 1.02%, compared with 0.72% for RFFC.

What is the main difference between RFFC and VOO?

RFFC is categorized as Large Cap Blend Equities, while VOO is S&P 500. They also come from different issuers: SS&C and Vanguard. Their fees differ too: 0.48% for RFFC and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.53 vs 2.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.